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Bain to Offer 8 Million Shares of Burlington

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Bain Capital Partners LLC is shedding its majority share of Burlington Stores Inc., which operates more than 500 stores under the Burlington Coat Factory, Cohoes Fashions, Super Baby Depot, MJM Designer Shoes and Burlington Shoes brands.

A secondary public offering filed with the Securities and Exchange Commission revealed that Bain and certain other affiliated stockholders intend to offer roughly 7.95 million of its shares, reducing its total holdings in Burlington to about 34.7 million and dropping it to minority status. The offering consists entirely of secondary shares to be sold by the selling stockholders.

If the public offering is approved, Burlington would no longer be considered a controlled company—a first since Bain acquired the off-price retailer from founder Monroe Milstein and his family in 2006. The private investment firm bought the discounter for $2.06 billion.

Burlington will not sell any shares in the offering and will not receive any proceeds from the offering. J.P. Morgan is acting as sole book-running manager for the offering.

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